Subsidy Tracker Individual Entry

Company: 
LOOP LLC
Parent Company: 
Marathon Petroleum
Subsidy Source: 
federal
State in Which Facility Is Located: 
Louisiana
County: 
Lafourche
Project Description: 

Acqu, Constr, Impr, Inst & Exp facilities and enhancements to the tank facility in Galliano.

Year: 
2010
Major Industry of Parent: 
oil and gas
Specific Industry of Parent: 
oil & gas
Value of Loan, Loan Guarantee or Bailout Assistance: 
$30,000,000
Loan Value Notes: 

Loan amounts do not reflect repayments. See the original source for that information.

Program Name: 
Gulf Opportunity Zone Bonds
Awarding Agency: 
Internal Revenue Service
Type of Subsidy: 
federal tax-exempt bond
Source of Data: 

direct from Louisiana Treasury Department

Notes: 

In the wake of Hurricane Katrina, the federal government provided Louisiana, Mississippi and Alabama allocations of private activity bonds, the interest on which was exempt from federal taxes. The face value amount is the value of the bonds issued by the state minus any rescinded amounts.

Source Notes: 
If an online information source is not working, check the Tracker inventory page for an updated link.